Halifax to axe 650 jobs in merger
Jul 17 2008 by Peter McCusker, The Journal
UP to 650 jobs are being cut at Halifax Bank of Scotland as part of plans to merge two of its business banking divisions.
Britain’s fifth largest bank said the roles would go across its UK offices over the next 18 months.
It is merging its 1,000-strong Business Banking arm, which sits in the group’s retail division, with the group’s Commercial Business in the corporate division to create one single unit focused on small and medium-sized businesses.
HBOS said that alongside the 650 expected job losses, another 350 staff within the enlarged division would be transferred to alternative roles in the group. The group said it hoped to achieve the reduction in jobs through voluntary redundancies, staff turnover and, where possible, further redeployment.
Trade union Unite said it was disappointed at the decision.
Ged Nichols, of HBOS’s group union Accord, added: “We are always unhappy at any planned reduction in the roles and opportunities available within HBOS – even when we fully understand what the business believes to be the commercial need for the changes. We will work hard to ensure that alternative roles can be found for those union members who want to stay in the company.”
But the group, which employs 65,000 people in the UK, stressed that the job losses and merger were not part of a wider plan to trim the bank’s operations.
